Aeva Technologies (NASDAQ:AEVA) Shares Down 6.4% - What's Next?

Aeva Technologies, Inc. (NASDAQ:AEVA - Get Free Report) fell 6.4% during mid-day trading on Friday . The company traded as low as $25.20 and last traded at $25.85. 876,713 shares changed hands during trading, a decline of 33% from the average session volume of 1,298,950 shares. The stock had previously closed at $27.61.

Analysts Set New Price Targets

Several research firms recently commented on AEVA. Oppenheimer raised their price target on shares of Aeva Technologies from $9.00 to $18.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Morgan Stanley lifted their price target on Aeva Technologies from $5.22 to $11.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Wall Street Zen upgraded Aeva Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Roth Capital upped their target price on Aeva Technologies from $17.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Finally, Canaccord Genuity Group lifted their price target on shares of Aeva Technologies from $9.50 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Aeva Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

Aeva Technologies Stock Up 8.7%

The firm has a market capitalization of $1.50 billion, a PE ratio of -9.65 and a beta of 1.65. The business has a 50-day moving average price of $14.72 and a 200-day moving average price of $8.09.

Insiders Place Their Bets

In related news, CEO Soroush Salehian Dardashti sold 200,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $5.36, for a total value of $1,072,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,764,808 shares in the company, valued at approximately $20,179,370.88. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sylebra Capital Llc bought 821,610 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were acquired at an average cost of $5.48 per share, with a total value of $4,502,422.80. Following the purchase, the insider now owns 12,669,326 shares of the company's stock, valued at $69,427,906.48. The trade was a 6.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 3,223,095 shares of company stock valued at $20,667,153 and sold 1,167,228 shares valued at $14,036,119. Corporate insiders own 27.20% of the company's stock.

Hedge Funds Weigh In On Aeva Technologies

Several large investors have recently modified their holdings of AEVA. Sylebra Capital LLC raised its holdings in Aeva Technologies by 56.4% in the 1st quarter. Sylebra Capital LLC now owns 16,228,553 shares of the company's stock valued at $113,600,000 after buying an additional 5,849,249 shares during the period. Parkwood LLC increased its position in shares of Aeva Technologies by 415.7% during the fourth quarter. Parkwood LLC now owns 1,426,627 shares of the company's stock valued at $6,776,000 after acquiring an additional 1,150,000 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Aeva Technologies by 2,490.3% in the 4th quarter. Jane Street Group LLC now owns 648,942 shares of the company's stock valued at $3,082,000 after acquiring an additional 623,889 shares during the period. Informed Momentum Co LLC acquired a new position in shares of Aeva Technologies in the 1st quarter worth approximately $781,000. Finally, LPL Financial LLC acquired a new position in shares of Aeva Technologies in the 4th quarter worth approximately $451,000. Institutional investors and hedge funds own 62.92% of the company's stock.

About Aeva Technologies

Aeva Technologies, Inc engages in the design, development, manufacture, and sale of LiDAR sensing systems, and related perception and autonomy-enabling software solutions in North America, Europe, the Middle East, Africa, and Asia. The company develops its products using frequency modulated continuous wave (FMCW) sensing technology.